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, the idea that there's all of this russian money with all this speculation, you know, that this is a tax haven and that this is money that people have questions about, that the way europe is approaching sigh pruls is not the way you'd awe approach these other countries and if you approach the other countries this way you crea real problemnd the know that. >>hat brings what happens to the parliament and what impact does that have. >> the cyprian parliament decide the to vote down the bill to confiscate the money from depositors. we don't have a bill or any certainty what's going to happen. most likely recommit to the cyprian parliament and then see what's going to happen to the banks. remember the banks have been closed until thursday morning. today walt the governor of the central bank of cyprus presumely he will know saying it could be a run of ten percentof deposits on the cyprian banks. and that's cause for concern. i think the banks in cyprus make two fundamental mistakes. banking 101 is supposed to boil out. don't lose money you don't have and they did and don't ever mess with depos
-term spending cuts continues. >> republicans and democrats in washington are still fighting over taxes and spending but they've agreed to keep the fight under control. house already passed a bill to keep the government running past the end of this month. now the senates preparing to do the same thing and there, the two parties aren't far apart on the details. >> we've con ens didded the number of amendments being talked about seriously. i commend them and their staff through all of their efforts. >> i spoke with them this morning. they've yet to reach an agreement. >> but the gap remains huge for a long-term plan for bringing government spending and revenue inline. >> they'll rede the entitlement programs but only if republicans agree to tax hikes and jepd speaker john boehner said the house's answer to that is no. >> the president got his tax heights on january 1st. the talk about raising revenue is over. it's time to deal with the spending problem. >> the two chambers have a way of talking about their differences, not with president obama but on each other. work on the contrasting ho
union leaders called for a tax on savings accounts, prompting a drop in global stocks. >. it's outright theft. >> woodruff: jeffrey brown kicks off a week of stories about the middle east, starting with israel's new governing coalition sworn into office today. >> ifill: paul solman reports on older workers in academic institutions, professors in the classroom long past age 65. >> am i keeping track of jobs? yes. that's okay. as long as i'm a good teacher, that's what's important. >> woodruff: and we examine the republican national committee's call for a new direction for the g.o.p., a road map hoping for a rebound in 2016 and beyond. >> ifill: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation
-year spending plan written by democrats. they call for higher taxes to fund government programs. house speaker john boehner remained skeptical. >> the budget that senate democrats are considering never balances, ever. that means more debt, fewer jobs and, frankly, much higher taxes from the american people. >> sreenivasan: the negotiations over these competing party visions for governing will begin in earnest when president obama submits his spending blueprint on april 8. with their work done, house members leave town today for a two week recess. while senators will remain in a marathon session until a vote on their own plan to fund the government. judy woodruff takes it from there. >> woodruff: for what's happening behind-the-scenes, we turn to todd zwillich, washington correspondent for "the takeaway" on public radio international. welcome back to the newshour. >> good to be with you, judy. >> woodruff: first this vote to ep the government funded by the end of the fiscal year, both the house and senate passed this. does this mean democrats and republicans finally see eye to eye on something?
their savings. tell us about this tax. >> the details were supposed to be decided on by today. due to strong reaction from the public, officials decided they needed a few more days to ponder it. political leaders have postponed a vote to seize a portion of individual's bank deposits to bail out its financial sector. the island nation has been asked by the european union to impose a bank deposit tax of up to 9.9% in return for a bailout of 10 billion euros or about $13 billion. the public's anger is growing and banks in the nation have been closed to avert panic. the government is working on a plan to soften the impact of the levee on small savers and increase the burden on larger ones. it's unclear whether the proposal will go through the l parliament as the country does not have a ruling party. finance ministers called an merge teleconference meeting. global stock markets took a tumble monday in new york. the dow closed down 62 points. that's more than .4 of a percent. to see how stocks are trading this tuesday morning here in tokyo, let's go do ramin. >> we could be in for a bit of a bou
rejects a plan to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to biness. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for cyprus? >> what's ahead is a very big question. the world was
and locates almost inevitability have to cut back when time is tough. they lose tax revenues. they are mandated legally to run a balanced budget so at the time same time consumers and red soxes pull back the government is. in washington, starting in 2011, with the negotiations between the house republicans and the white houses, the house republicans have insisted on big cuts and have woniguts and that's why we have austerity and will have more this year. >> rose: if the fed wanted to reduce unemployment from seven to whatever it is-- seven. could they do that? do they have the tools to do that? >> no. i don't think so. they're down to incremental policies. i think they know that. ben bernanke and janet yellen, and otheres, are constantly arguing-- correct, i think-- but they tend to put the best face on it as they can, we still have effective policy instruments, we can stillgivehecony a boost. but you're talking in the desmalplace of the growth rate. there is nothing left in the fed's arsenal, i don't think that could as a half a point to the growth rate. that's not that much
that advertised discretion and what they call tax optimization. and they did have lower corporate tax rates. so there are legitimate reasons to put your money here. but, also, previous governments than the current one, they wanted to be a international financial center. th worked very hard to attract capital from all over the world. it is the business model of this country. but it's not going to be very for long. they just can't do it anymore. >>> one statistic to leave you with. the banking system is so much larger here in cyprus, if we wanted to have one in the united states that was as large equivalent to our economy, we would need 45 more jpmorgans. that's how much bigger we would have to get to match the size that they've done here relative to the size of this place. >> thank you very much. >>> well, a big bipartisan vote at the capital, the senate overwhelmingly passed a massive stop-gap spending bill that will keep washington up and running through the end of september. it leaves federal spending cuts in place. but that could mean job furloughs for hundreds of thousands of federal worker
washington has taken away by tax increases and sequestration it is a small episode. >> let's dig deeper. do you think that the level of profit growth will not justify any real further expansion of the price earnings multiple or what? >> i would say the first part, yes. if you look at profits they are very, very strong and have been for a while but it is a maturing earnings cycle. also in this environment the u.s. economy is growing more like 2% and a lot less like 4 in that environment pricing is going to be challenged and the top line sales is not going to be universal for all firms. it will be balance sheet by balance sheet and case by case. security collection becomes far more important. >> i was going to say as you point out the profit growth picture has been pretty good but we are getting at the mature point in that cycle and the forecast is about 1% or 2% overall growth. there are always ways to make more money than the index tracking would lead you to believe. where do you think the pockets of possible better than average profits would be? >> so we do like equities. when you compare
programs or give tax breaks to the wealthy and corporations. >> just like in the scriptures where jesus blessed and broke the loaves and fish and said "share among each other," there is enough to go around. in fact, there's more than enough to go around." >>> a new poll from the public religion research institute this week shows that majorities in every faith group surveyed support an immigration policy that includes an earned pathway to citizenship. a little more than 60% of the population as a whole expressed the same attitude. nearly 70% of those surveyed said the golden rule, treating others as you'd like to be treated, is an important value in shaping immigration policy. >>> gordon cosby died this week. right after world war ii in which he was a paratrooper chaplain, he founded and then led the nondenominational church of the savior in washington, d.c. in an early interview on this program, cosby spoke of how members committed themselves totally to following jesus, beginning with tithes, prayers, meditation and study. >> then out of that, we feel, comes the capacity to do that whic
budget plan reduces the deficit without raising taxes. >> the republican plan is the same baby with a new diaper. >> we know tt until recentl president obama and israeli prime minister netanyahu enjoyed what can be politely described as a somewhat strained relationship. on april 7 of last year, the "new york times" reported benjamin netanyahu and mitt romney enjoyed a warm relationship. almost one year later, the israelis have given obama a medal. they appear to be on the same page on iran. >> diplomacy and sanctions have not stopped iran's nuclear programs. diplomacy and sanctions must be augmented by a clear and credible threat of military action. >> we will do what is necessary to prevent iran from getting the world's worst weapons. >> will this story have a happy ending? >> this story will not have a happy ending. what we saw this week was barack obama at his best, connecting with an audience, and he made a compelling case for the need for a two-state solution, the security of israel and the well- being of the region. >> charles? >> the emphasis has been on personality. what happened
does. so in the end you're going to see taxes rise, lower interest rates, zero interest rate policies, and quantitative easing. the investors on the sidelines will see no return on their money and they're going to see the value of their money eroded underneath them. >> doug, my question for you is, do you think that u.s. equities have had their gains for 2013? >> i think we made a quick leap into the year, so i would say on the valuation standpoint, they may have. so when you look at u.s. equities, your prices go up for two reasons. one is the earnings go up, and two is the valuation multiple assigned to those earningsit$ up. so day-to-day we've see about a 10% increase in the s&p. i think there's plenty of room for earnings to grow, and earnings grow as a result of people having more jobs and buying more things, result of the housing crisis being behind us and people feel more confident and their house price goes up and they put into their home and other+j87 things. i think there's plenty of potential. there's a lot of good news going on in the u.s. you have the manufacturing renais
agents as well as mustard gas. the parliament of cyprus voted to reject a bill that would tax bank deposits in order to qualify for an international bailout package. to receive $13 billion from the e.u. and the international monetary fund, cyprus has to raise $7.5 billion on its own. but taxing people's bank accounts proved unpopular, even when the provision was added to shield small savers. banks across cyprus will remain closed until thursday to avoid a run on cash. uncertainty about the cyprus situation set markets around the world and on wall street on edge. the dow jones industrial average gained more than three points to close above 14,455. the nasdaq fell eight points to close at 3229. seven u.s. marines were killed after a mortar unexpectedly exploded during a training exercise in western nevada. military officials said that prompted the pentagon to halt the use of the mortar worldwide until an investigation can be completed. the accident happened last night at the hawthorne army depot. the marines who were killed were based at camp lejeune in north carolina. seven other ma
not to be too strong in the second quarter. let's remember what just happened. the payroll tax going away, the sequester that's really going to start hitting in april. therefore the second quarter. so earnings in the short term might seem weak, but we do believe over the next couple years, the earnings story could be strong, especially when you look at the economy and the fundamental story what's happening with housing and slowly what's happening to jobs. >> so where should i put my money, andress? if i want to be a broadly diversified global investor, what percentage of it right now of my equity holdings should be in the u.s. market and what percentage in foreign markets, what percentage in emerging markets? >> so first off, we are overweight in the u.s. equity markets over, for instance, other developed economies like europe. i think a lot of the headline risk is going to actually send a lot of dollars back into the united states. and fundamentally, the u.s. economic story is improving. but just a comment on emerging markets. you hit on something that i think is important. i think most
for a eurozone bailout. yesterday, the cypriot parliament rejected a bill to tax bank deposits. today, lawmakers crafted a plan "b." we have a report from jonathan rugman of "independent television news." >> reporter: why would the finance minister of a sun-kissedile be braving moscow's weather? because he's desperate for money. he came begging for around $5 billionuros d doesn't intend to leave without it. >> there were no offers, nothing concrete. we are continuing discussion. we are happy with a good beginning and looking forward to continuing this discussion over the next few hours. >> and while the cypriots have flown to russia, the russians have flown to cyprus. in a country where cash points still work, even if the banks behind them don't. these banks are not set to reopen until next tuesday. any dash for cash, and they could collapse. >> cyprus is facing on the economic side a question of survival. >> reporter: even the orthodox church has joined the scramble for a solution. the island's archbishop today told the president he would put the church's vast property portfolio up as collatera
budget bill would impose almost $1 trillion of tax increases couplihu)ud $875 billion in spending cuts. democrat chris coons of delaware said crafting a budget should be about more than the bottom line. >> we need to do it in a way that both stabilizes our deficit and debt, makes critical investments in growing our economy and preserves the core of the programs on which americans rely. this is not just about numbers. it is also about values. it is also about priorities. >> sreenivasan: republican jeff sessions of alabamaĆ§Ć³ called democrats out for how they were using the word balance during the debate. >> they're also using the word balance. they hope people will hear it and think that this means they have a balanced budget. they know they don't have a balanced budget. they won't tell the american people they don't have one. they just use the word. but it's not in their document. >> sreenivasan: sessions forced a vote on an amendment to put democrats on record in opposition to balancing the budget by the end of the decade. it failed on a near-party line vote. lawmakers in north dakot
Search Results 0 to 19 of about 20 (some duplicates have been removed)